Preheat oven to 325ºF. Spray pan with vegetable pan spray. In small bowl, combine topping ingredients; mix until crumbly. Set aside.
In large bowl, cream granulated sugar and butter with electric mixer until light and fluffy. Add eggs, one at a time. Add vanilla and almond extract; beat until combined. Combine flour and baking powder. Add to butter mixture; mix just until moistened. Spoon batter into prepared pan; spread evenly. Top evenly with cherry pie filling; gently poke cherries down into batter. Sprinkle with topping mixture.
Bake 50-60 minutes or until toothpick inserted in center comes out clean. Cool in pan on rack. Serve warm or at room temperature.